We engage in restructuring actions through Project Own It as well as other transformation efforts in order to reduce our cost structure and realign it to the changing nature of our business. As part of our efforts to reduce costs, our restructuring actions may also include the off-shoring and/or outsourcing of certain operations, services and other functions, as well as reducing our real estate footprint.

During the six months ended June 30, 2021, we recorded net restructuring and asset impairment charges of $25, which included $20 of severance costs related to headcount reductions of approximately 400 employees worldwide, $2 of other contractual termination costs and $12 of asset impairment charges. These costs were partially offset by $9 of net reversals, primarily resulting from changes in estimated reserves from prior period initiatives.


	Severance and Related Costs		Other Contractual Termination Costs(2)		Asset Impairments(3)		Total
Balance at December 31, 2020	$	78	$	4	$	—	$	82
Provision	14		1		10		25
Reversals	(4)		—		—		(4)
Net current period charges(1)	10		1		10		21
Charges against reserve and currency	(29)		(1)		(10)		(40)
Balance at March 31, 2021	$	59	$	4	$	—	$	63
Provision	6		1		2		9
Reversals	(3)		(1)		(1)		(5)
Net current period charges(1)	3		—		1		4
Charges against reserve and currency	(20)		(1)		(1)		(22)
Balance at June 30, 2021	$	42	$	3	$	—	$	45

(1)Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown for restructuring and asset impairment charges.

(2)Primarily includes additional costs incurred upon the exit from our facilities including decommissioning costs and associated contractual termination costs.

(3)Primarily relates to the exit and abandonment of leased and owned facilities. The charges include the accelerated write-off of $2 for leased ROU assets and $9 for owned assets upon exit from the facilities, net of any potential sublease income and other recoveries, including potential sales.

The following table summarizes the reconciliation to the Condensed Consolidated Statements of Cash Flows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Charges against reserve and currency	$	(22)	$	(13)	$	(62)	$	(48)

Effects of foreign currency and other non-cash items	—		(4)		13		(4)
Restructuring cash payments	$	(22)	$	(17)	$	(49)	$	(52)

In connection with our restructuring programs, we also incurred certain related costs as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Retention related severance/bonuses(1)	$	3	$	4	$	(1)	$	11
Contractual severance costs	3		—		3		4
Consulting and other costs(2)	2		1		2		2
Total	$	8	$	5	$	4	$	17

(1)Includes retention related severance and bonuses for employees expected to continue working beyond their minimum notification period before termination. The credit for the six months ended June 30, 2021 reflects a change in estimate.

Cash paid for restructuring related costs were approximately $3 and $8 for the three months ended June 30, 2021 and 2020, respectively, and $6 and $8 for the six months ended June 30, 2021 and 2020, respectively. The restructuring related costs reserve was $18 and $21 at June 30, 2021 and December 31, 2020, respectively. The balance at June 30, 2021 is expected to be paid over the next twelve months.